RE:Someone help me understand this - Is this a growth stock?Yes, you should buy this stock for the long term.
To answer your question, you can't evaluate this company using traditional GAAP/IFRS earnings per share. The company minimizes these measures for tax reasons.
The proper way of evaluating this is on the basis of AFFO/Unit or Price/AFFO - these are measures of cash flow.
At the end of the day, this company has a potential for 10% annual growth in cash flows and a 4% payout giving 14% returns long term. Dividend growth will probably be around 10% or so long term. You can find very few companies like this out there. Grab them with both hands when you manage to find one.